1z0-961 practice test

1. Question 1 · 1

   After you submitted a Payment Process Request, you noticed errors. You want to void the payments. Identify two statements that indicate when it is not possible to void a payment.

   Choose all answers that apply.

   • A payment with the status of Issued.
   • A payment that has already cleared the bank.
   • A payment for an invoice with an associated Withholding Tax invoice.
   • A payment that has been accounted and posted to General Ledger.
   • A payment that pays a prepayment that has been applied to an invoice.

2. Question 2 · 1

   Which component is not included in the security architecture for credit card data and bank account data encryption?

   Choose one answer.

   • Payments master encryption key
   • Oracle Wallet
   • Payments subkeys
   • Sensitive data encryption and storage
   • Supplier master encryption key

3. Question 3 · 1

   An installment for $2,000 USD is due for payment on July 31, 2016. The installment has two discounts: the first discount date is June 15, 2016 for $150 USD and the second discount date is June 30, 2016 for $50 USD. You submit a Payment Process Request with the following criteria: - Payment Date = June 20, 2016 - Pay Through Date = July 30, 2016 - Date Basis = Due Date What will be the resulting status of the installment and discount?

   Choose one answer.

   • The installment is selected and a discount of $150 USD is applied.
   • The installment is selected and a discount of $50 USD is applied.
   • The installment is not selected because the due date is after the Pay Through Date.
   • The installment is selected and no discount is applied.
   • The installment is not selected because the discount dates are before the Pay Through Date.

4. Question 4 · 1

   While entering an expense report for your corporate card transactions, you notice that the conversion rate defined in the Manage Conversion Rates and Policies page is not used. What is the reason?

   Choose one answer.

   • You did not define conversion rates in the General Ledger Cloud.
   • Only cash transactions use those settings.
   • You did not define conversion rates for your business unit.
   • You did not specify a default expense template.

5. Question 5 · 1

   A Payment Process Request was submitted and errors were found in the payment file. The payment file and process were terminated. Which two statements are true?

   Choose all answers that apply.

   • The invoices are placed on payment hold.
   • The status of each payment in the payment file is Cancelled and the related documents are available for future selection.
   • The status of the payment file is Cancelled.
   • The status of the payment file is Terminated.
   • The status of each payment in the payment file is Terminated.

6. Question 6 · 1

   You have successfully processed the expense reports for reimbursement and have transferred the information to Payables. What is the next step before you can pay them?

   Choose one answer.

   • Transfer the data to General Ledger.
   • Create Accounting for the invoice in Payables.
   • Validate the invoice in Payables.
   • Create a payment process request in Payments.

7. Question 7 · 1

   Identify two ways the invoice imaging solution works in the Cloud.

   Choose all answers that apply.

   • Customers scan the invoice on-premise and email the images.
   • Customers cannot use invoice imaging in the Cloud.
   • Customers scan and store the invoice images on-premise and attach them during invoice entry.
   • Customers ask their suppliers to scan and email the invoice.
   • Customers ask suppliers to send electronic invoices.

8. Question 8 · 1

   You are using the Payables Deferred Expense feature (also known as Multiperiod Accounting). You have entered an invoice for a three-month lease that is entered on Jan 10th. The total expense is $12,000 and it covers the rental period from Jan 1st to mar 31st. Assuming that the rental expenses are split evenly per month and a monthly accounting calendar is used, what would the accounting entry be?

   Choose one answer.

   • On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000 and then On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
   • On Jan 10th, Debit Prepaid Expense 12,000 and Credit Liability for 12,000
   • On Jan 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000 On Feb 28st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000
   • On Mar 31st, Debit Rental Expense for 4,000 and Credit Prepaid Expense for 4,000

9. Question 9 · 1

   The Accounts Payable Manager voided a foreign currency payment due to insufficient funds. Which three statements are correct?

   Choose all answers that apply.

   • Voiding the payment automatically places an invoice on hold.
   • Any previous accounting and payment records for an invoice are reversed.
   • Any realized gain or loss previously calculated is reversed.
   • All related withholding tax invoices are automatically voided.
   • All related interest invoices are reversed if previously created.

10. Question 10 · 1

    When submitting the Payables to General Ledger Reconciliation report, the extract did not select any data. What should you check?

    Choose one answer.

    • Make sure you assign an Account parameter when running the extract to include liability account.
    • Make sure you assigned a Financial Category of Accounts Payable to all your liability natural account values.
    • Make sure you enabled the Reconciliation flag to all of your liability natural account values.
    • Make sure you specified a Business Unit in the parameters when running the extract.

11. Question 11 · 1

    Which two statements are true about processing corporate card expenses?

    Choose all answers that apply.

    • Conversion rate defaults are applicable to corporate card expenses, just as they are applicable to cash expenses.
    • You can process payment for credit card using Electronic funds transfer, check, or wire.
    • Usage policy for expense category tolerances does not apply to credit card expenses.
    • Conversion rate defaults apply only to cash expenses, not to corporate card expenses.
    • Card transactions will be paid directly from Expenses Cloud.

12. Question 12 · 1

    Identify three scenarios where you are not allowed to cancel an invoice.

    Choose all answers that apply.

    • An accounting entry has been created for the invoice.
    • Prepayments were applied to the invoice.
    • The invoice was adjusted by a credit or a debit memo.
    • The invoice is validated.
    • The invoice is fully or partially paid.

13. Question 13 · 1

    Which invoice types can be included in the Create Payment flow?

    Choose one answer.

    • Standard, Credit Memo and Debit Memo
    • Standard, Credit Memo, and Invoice Request
    • Standard, Credit Memo and Customer Refund
    • Standard, Debit Memo and Customer Refund

14. Question 14 · 1

    Which three attributes are captured during the scanning of invoice images?

    Choose all answers that apply.

    • Invoice Date
    • Invoice Number
    • Terms Date
    • PO Number
    • Payment Method

15. Question 15 · 1

    Which attributes on the payables invoice can be used during approval rule creation?

    Choose one answer.

    • company and cost center segment only
    • cost center segment and supplier only
    • supplier only
    • company segment, cost center segment, supplier, and Attribute 1 on the invoice line

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